News Shocks in Open Economies

preview-18
  • News Shocks in Open Economies Book Detail

  • Author : Mr.Rabah Arezki
  • Release Date : 2015-09-29
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 54
  • ISBN 13 : 1513543156
  • File Size : 27,27 MB

News Shocks in Open Economies by Mr.Rabah Arezki PDF Summary

Book Description: This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.

Disclaimer: www.yourbookbest.com does not own News Shocks in Open Economies books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

News Shocks in Open Economies

News Shocks in Open Economies

File Size : 27,27 MB
Total View : 6710 Views
DOWNLOAD

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly obser

News Shocks in Open Economies

News Shocks in Open Economies

File Size : 8,8 MB
Total View : 4359 Views
DOWNLOAD

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly obser

News and Business Cycles in Open Economies

News and Business Cycles in Open Economies

File Size : 8,8 MB
Total View : 6352 Views
DOWNLOAD

Aggregate and sectoral comovement are central features of business cycle data. Therefore, the ability to generate comovement is a natural litmus test for macroe

International Macroeconomics

International Macroeconomics

File Size : 93,93 MB
Total View : 859 Views
DOWNLOAD

An essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elega